Based, a Web3 trading and payments app built on Hyperliquid, has raised $11.5 million in a Series A investment, The Block reported on Feb. 23 local time.
Pantera Capital led the round, with participation from Coinbase Ventures, Wintermute Ventures and Karatage. Pantera Capital secured an observer seat on Based's board.
Based is building a Web3 super app that integrates trading, wallet functions, on- and off-ramps and a crypto-linked Visa card, using Hyperliquid's blockchain and trading infrastructure.
It offers perpetual futures trading, prediction markets and crypto spending features in a single interface. It improved user accessibility through a mobile-first design.
Jay Yu (제이 유), a partner at Pantera Capital, said, "Based is establishing itself as a leading gateway to the Hyperliquid ecosystem and will grow into a platform for all trading and spending."
Chi-gyu Hwang
delight@d-today.co.kr